IEEE Power & Energy Magazine - November/December 2014 - 41

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markets. The Price Coupling of Regions (PCR) initiative,
involving seven regional markets in northern and central
Europe, aims at the development and implementation of a
single market-clearing algorithm to schedule the production
facilities of all participating markets and to derive meaningful price signals. This integration initiative is illustrated
in Figure 2 and includes the markets of Austria, Belgium,
Czech Republic, Denmark, Estonia, Finland, France, Germany, Italy, Latvia, Lithuania, Luxembourg, The Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and
the United Kingdom.

In 2011, renewable electricity production in the EU
accounted for 21% of the total production. Renewable integration in the EU is generally promoted by paying subsidized feed-in tariffs well above the production cost of the
marginal technology, which is generally combined-cycle gas
turbine (CCGT). These subsidies were not questioned during
periods of economic growth, but they have been challenged
beginning in 2008 in EU countries with stagnant or declining electricity demand.
Integrating renewables constitutes a significant challenge
from an operational viewpoint, as most renewable sources

Mtoe

1,850
1,800
1,750
1,700
1,650
1,600

figure 1. Gross EU energy consumption, in Mtoe,
1990-2012.
november/december 2014

2012

2010

2008

2006

2004

2002

2000

1998

1996

1994

1992

1,500

1990

1,550

figure 2. The EU's PCR initiative for the electricity sector
(source: OMIE).
ieee power & energy magazine

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Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - November/December 2014

IEEE Power & Energy Magazine - November/December 2014 - Cover1
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IEEE Power & Energy Magazine - November/December 2014 - Cover3
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